Professional Documents
Culture Documents
EXPAND
YOUR
GLOBAL
PRESENCE
Global Company Partnership
GCP
WHY
GO GLOBAL?
01
Singapores domestic economy is limited.
Its crucial for companies to look abroad to
expand their network and consumer base.
02
Overseas markets also open the door
to more resources and cost-competitive
options for overheads. Moreover, with the
global economy being so unpredictable,
putting your eggs in more than one market
diversifies your risk.
03
IE Singapore is here to lend a hand to
LET IE SINGAPORE
PARTNER YOU IN
ACHIEVING YOUR
GLOBAL VISION.
01//
ADVISORY AND
BUSINESS
DEVELOPMENT
OVERSEAS PROJECT
FACILITATION
FACILITATING IDENTIFYING INTERNATIONAL
GOVERNMENT-TO- BUSINESS LEADS ORGANISATIONS
GOVERNMENT PROJECTS AND BANKS
With over 35 overseas centres,
we have established a thorough
We have over 20 platform projects In addition to helping you make
understanding of markets and
globally. Benefit from business connections with foreign partners for
shareholders. With the knowledge of
opportunities created by these long- potential business ventures, we open
markets we are in, we can introduce
term economic partnerships between doors to international organisations
you to potential business partners and
Singapore and foreign governments. such as the Asian Development Bank,
customers in overseas markets.
Examples include the Guangzhou the International Monetary Fund, and
Knowledge City and Sino-Singapore the World Bank.
Tianjin Eco City in China, four Vietnam-
Singapore Industrial Parks across MISSIONS
Vietnam, and the International Tech
Park in Bangalore, India. Similarly,
ACCESS TO LATEST
With over 35 overseas centres,
we support seven bilateral business
we have established a thorough
MARKET TRENDS
councils across China a key mode
understanding of markets and
of G2G engagement that opens Our worldwide network sheds light on
shareholders. With the knowledge of
doors to business opportunities and global business and industry trends.
markets we are in, we can introduce
partnerships in China. Through third-party consultants, we
you to potential business partners and
customers in overseas markets. provide you with industry-specific
market reports to assess the feasibility
of new ventures.
01//
ADVISORY AND
BUSINESS
DEVELOPMENT
Relationships thrive when they are To help Singapore companies Written by IE officers immersed in Get access to the latest market and
given the right platforms to grow in. understand overseas markets better, markets all around the world, each industry trends and developments
Our global forums bring government, we organise business missions instalment of IE Insights brings in- through third-party research databases.
industry and business leaders together throughout the year to various depth market intelligence and on- These can be accessed at our office at
to expand your business networking emerging and developed markets, led the-ground understanding of market Bugis Junction Level 10.
opportunities: by IE officers. These missions allow opportunities for Singapore companies.
Market information Industry information
you to network with companies in
// Business // Euromonitor
// Africa-Singapore Business Forum those markets, and to explore possible
Monitor International International
// Latin-Asia Business Forum
// Russia-Singapore Business Forum
business opportunities.
FTA INSIGHTS (BMI) // Kompass Online
// Economist // One Source
// Abu Dhabi-Singapore Joint Forum
Intelligence Unit
FTAs work to connect Singapore to
// Global Trader Summit
// Asia-Singapore Infrastructure
IADVISORY EVENTS major economies and new markets.
(EIU)
02//
FINANCIAL
ASSISTANCE
FOR CAPABILITY
BUILDING
When you venture into new markets, we prepare you with crucial
business capabilities.
Refer to the Capability Building insert for full list of supportable activities.
SUPPLY CHAIN
DIGITAL STRATEGY MANAGEMENT (SCM)
Ensure your customers have timely
Showcase and market your products
access to goods and services, improve
and services online this may just be
your bottom line, and increase your
your first step into a new market.
resilience to crisis situations.
02//
FINANCIAL
ASSISTANCE
FOR MARKET
ACCESS
With more than 35 Overseas Centres, we can provide you with
access to the right partners and expertise derived over the
years for new market entry and strengthening market position.
Refer to the Market Access insert for full list of supportable activities.
// Market feasibility
Understand the market potential and
opportunities in a specific geography
* For Pilot and testbedding projects, non-SMEs can
before considering market entry. enjoy support up to 70% of eligible project costs.
Valid till 31 March 2016.
^ New markets are markets in which the yearly sales
// M&A due diligence of a company are not more than S$100,000 for any
Make better informed decisions of the past three years (non-cumulative).
regarding investments.
02//
FINANCIAL
ASSISTANCE
FOR MANPOWER
DEVELOPMENT
Every business needs a strong team, especially when you are interested in Companies also stand to benefit from our other manpower programmes:
overseas expansion.
02//
FINANCIAL
ASSISTANCE
ACCESS TO CAPITAL
AND LOANS
Access to capital is crucial for your business to go global.
IE Singapores credit enhancement schemes aim to set you up
for overseas growth.
Refer to the Access to Loans and Capital insert for full list of supportable activities.
GLOBAL
COMPANY
PARTNERSHIP
AREAS OF SUPPORT:
STEPS
// QUALIFYING CRITERIA
STEP 1 // Speak to us about your overseas overseas expansion, including: Up to 70% of costs incurred in engaging a third-party
Diagnosis professional. Valid from 1 April 2015 to 31 March 2018
expansion. Call/ email us at Strategy development
Recommendations For non-SMEs:
1800-IESPORE (1800-4377673) Up to 50% of the costs incurred in engaging a third-party
enquiry@iesingapore.gov.sg Examples of supportable activities: professional
Internationalisation strategy
Branding
Design
Franchising and licensing
Intellectual property (IP) management INTERNATIONAL
Digital Strategy
Financial management ENTERPRISE
STEP 2 // Work with us so that we may better
understand your business, strategies,
Supply chain management
STEP 4
Each application will be evaluated and subject to approval GCCsonarea case-by-case
a critical growthbasis.
engine for the next phase
// IE will offer customised solutions that IE Singapore will then co-fund eligible costs. of Singapores development. GCCs compete on the
will help you take your business further global stage against the very best in their industries.
They functions
* Global HQ refers to global management control and decision making contribute areto Singapores
based economic
in Singapore. resilience,
(Indicators could include the
on a global scale. global CXOs being based in Singapore; board meetings are held in Singapore, etc).
develop Singaporeans into global business leaders
** SME is defined as is a company whose turnover is not exceedingand S$100
strengthen the Singapore
million based on the mostbrand.
recentThrough our
audited report
Global Company Partnership and Market Readiness
Assistance, we work with Singapore-based
For more information companies in their various stages of growth towards
Please visit www.iesingapore.com/MRA_Grant or call being
usglobally competitive.(1800-437 7673).
at 1800-IESPORE
Information accurate at time of printing // October 2015 Our global network of overseas centres in over 35
locations provides the necessary connections in
many developed and emerging markets.
< YOUR
COMPANY>
< MARKET OF YOUR CHOICE>
230 /188024
www.iesingapore.com/GCP
INTERNATIONAL ENTERPRISE SINGAPORE
GLOBAL
COMPANY
PARTNERSHIP
AREAS OF SUPPORT:
01// CAPABILITY
BUILDING
For non-SMEs:
Up to 50% of third-party costs incurred to execute the
recommendations of the strategy
Do You Qualify?
To qualify for financial support, you will need to fulfil the following criteria:
* Global HQ refers to global management control and decision making functions are based in Singapore. (Indicators could include the
global CXOs being based in Singapore; board meetings are held in Singapore, etc).
** SME is defined as is a company whose turnover is not exceeding S$100 million based on the most recent audited report
For more information
Please visit www.iesingapore.com/GCP or call us at 1800-IESPORE (1800-437 7673).
Company Y designs and supplies process equipment to the petrochemical and oil
& gas industries. To aid the inorganic growth of the company, it decided to embark a
branding project to differentiate itself from competitors, enhance its brand positioning
and improve communications both internally and externally.
How we supported Company Y: Provided grant support for a branding project with
a third-party professional aimed at developing a strong and identifiable brand, and
positioning it better.
GLOBAL
COMPANY
PARTNERSHIP
AREAS OF SUPPORT:
02// MARKET
ACCESS
Do You Qualify?
To qualify for financial support, you will need to fulfil the following criteria:
* Global HQ refers to global management control and decision making functions are based in Singapore. (Indicators could include the
global CXOs being based in Singapore; board meetings are held in Singapore, etc).
** SME is defined as is a company whose turnover is not exceeding S$100 million based on the most recent audited report
For more information
Please visit www.iesingapore.gov.sg/GCP or call us at 1800-IESPORE (1800-437 7673).
GLOBAL
COMPANY
PARTNERSHIP
AREAS OF SUPPORT:
03// MANPOWER
DEVELOPMENT
Talent Young Talent Programme (YTP) Companies can enjoy the following support:
Attraction Market Immersion Opportunity to engage local students for overseas
(Potential Overseas internships with students internships.
hires) from local educational institutions Eligible students participating in such overseas
with the purpose of identifying internships will receive funding for cost of living
potential talent and improving allowances from IE Singapore and their institutions.
employer brand exposure.
Eligible companies can approach
partnering educational institutions#
to be matched to student interns.
Visit www.iesingapore.com/ytp-
companies for contact details of
participating educational institutions.
For non-SMEs:
Up to 50% of the costs incurred in engaging a third-
party recruitment consultancy services to hire C-suites
and critical talent
Supportable Activities Financial Support
Do You Qualify?
To qualify for financial support, you will need to fulfil the following criteria:
Global HQ* anchored in Singapore
An annual sales turnover of at least S$500,000 per annum based on the most recent audited report
A minimum paid-up capital of S$50,000
Each application will be evaluated and subject to approval on a case-by-case basis.
IE Singapore will then co-fund eligible costs.
* Global HQ refers to global management control and decision making functions are based in Singapore. (Indicators could include the
global CXOs being based in Singapore; board meetings are held in Singapore, etc).
** SME is defined as is a company whose turnover is not exceeding S$100 million based on the most recent audited report
For more information
Please visit www.iesingapore.com/MRA_Grant or call us at 1800-IESPORE (1800-437 7673).
Company Z is a food retailer making its foray into China. The company planned to
send its existing Singapore-based staff to run the overseas operations. To prepare
and equip its staff to manage the overseas operations, the company recognised the
need to provide hands-on training experience to help its staff learn and familiarise
themselves about doing business in Shanghai, China.
How the project helped Company Z: The executive is now a seasoned professional
in Shanghai. He is also a mentor to two other executives posted from Singapore, sent
to set up operations in other provinces in China.
GLOBAL
COMPANY
PARTNERSHIP
AREAS OF SUPPORT:
04// ACCESS TO
CAPITAL & LOANS
What it is for Protect against non-payment risks Protect overseas investments and projects against
of buyers political risk
Support from 50% support on minimum premium 50% support on premium for Political Risk Insurance
IE Singapore of Trade Credit Insurance (TCI) policies (PRI) policies provided by Singapore-registered credit
provided by Singapore-registered insurers, up to first 3 years of each PRI policy and
credit insurers, up to S$100,000 per S$500,000 per Applicant Company in aggregate
Applicant Company in aggregate
How to Apply Approach any Singapore registered credit broker/ insurer for a TCI or PRI policy.
Should your company qualify for premium support, the insurer/ broker will assist in the submission
of your application to IE Singapore.
What it is for Helps companies secure short-term Helps companies secure loans of up to
trade financing loans from Participating S$30 million for internationalisation from
Financial Institutions (PFIs) by insuring Participating Financial Institutions (PFIs) by
against insolvency risks. insuring against insolvency risks.
Support from IE IE Singapore and SPRING Singapore IE Singapore bears 70% risk with the PFIs.
Singapore support 50% of the insurance premium
under LIS where risks are borne by
commercial insurers.
Eligibility Criteria For selling to overseas customers: Singapore-based company with meaningful
Singapore-based company with at least business operations and at least three
three strategic business functions4 in strategic business functions4 in Singapore
Singapore Turnover5 caps:
Turnover5 caps: Non-trading company: not exceeding
Non-trading company: not exceeding S$300 million
S$300 million Trading6 company: not exceeding
Trading6 company: not exceeding S$500 million
S$500 million Overseas business must complement the
Singapore companys core operations and
For selling to local customers: result in economic spin-offs to Singapore
At least 30% local shareholding
Applicant Companys group annual
sales
turnover not exceeding S$100 million
OR
Applicant Companys group
employment size
not exceeding 200 workers7
How to Apply
The loans under LIS/ LIS+ and IFS are funded and administered by PFIs.
Applications must be made through any of the PFIs listed in the table below:
GLOBAL
COMPANY
PARTNERSHIP
AREAS OF SUPPORT:
05// DOUBLE-TAX
DEDUCTION
FOR INTERNATIONALISATION
(DTDi) Enjoy tax savings with DTDi which provides 200% tax
deduction on eligible expenses for supported market
expansion and investment development activities.
Market Preparation
Market Exploration
Market Promotion
Design of packaging Market Presence
for overseas markets Overseas business
Overseas advertising
Product/ Service development Overseas trade
and promotional
certification trips/ missions* offices
campaigns
Market surveys/ Overseas trade fairs* Master licensing
Production of
Feasibility studies Local trade fairs and franchising
corporate brochures
approved by IE Employee overseas
for overseas
Singapore or posting^
distribution
Singapore Tourism Overseas investment
Advertising in
Board (STB)* study trips/
approved local trade
missions^*
publications
Investment feasibility/
due diligence studies^
* Automatic DTD: Claim 200% tax deduction on the first S$100,000 of eligible expenses for these four activities per year
of assessment. No prior approval from IE Singapore is required. Expenditure exceeding S$100,000 will still require
IE Singapores approval.
^
Activities supported under Section 14K of the Income Tax Act. All the other above activities are supported under
Section 14B.
Benefits of DTDi
An example illustrating the potential tax savings through DTDi when an eligible expense is
an Allowable Business Expense# under the Income Tax Act
Case 1: Company A spent S$10,000 to participate in an overseas tradeshow to reach out to its buyers
in Europe
Case 2: Company B posts a staff into an overseas subsidiary to drive its marketing efforts in-market.
Staff basic salary is $2,000 per month.
# Allowable expenses generally relate to expenses incurred and related to the specified business. For more details please
refer to IRAS website: https://www.iras.gov.sg/irashome/Businesses/Self-Employed/Working-out-your-taxes/Deductions-
to-Save-Tax/Business-Expenses/
How to apply?
Step 1 Submit your application online with your SingPass for activities:
that do not fall under automatic DTDi
with quantum exceeding the first S$100,000 for that year of assessment under automatic
DTDi
Applications must be submitted before project commencement.
Step 2 Processing of your application within 5 working days upon receipt of complete
information. We may request supporting documents to verify eligible expenses.
Step 3 For approved applications, submit your evaluation forms upon project completion. We will
then proceed to issue a Letter of Support for you to support your claims with Inland Revenue
Authority of Singapore (IRAS).
Step 4 Attach the Letter of Support from IE to IRAS when filing the companys annual income
tax return. All other relevant supporting documents (like invoices, receipts, etc), should be
compiled by the company and made available to IRAS upon request.
Step 5 IRAS will assess if the expenses submitted qualify for tax deductions.